AC - Actuarial
Estimated Travel Percentage (%): Up to 25%
Relocation Provided: No
AIG Europe S.A. (U.K. Service Branch) & American International Group UK Ltd
This role will manage the pricing and portfolio management team to achieve goals and deliver on strategic initiatives supporting the business. The position will encourage the professional development of the team members to strengthen technical capabilities, develop balanced product experience and expand business knowledge. The successful candidate will also work closely with the product managers and underwriting team as a key member of the business team to support product development initiatives, monitor portfolio profitability and support new marketing initiatives as needed and will ensure the implementation of global standards, guidelines, rating tools and templates within the applicable countries. This role will also be responsible for regional input on global guidelines and data collection as needed.
The quality of Senior Leadership is a defining factor for a company's success. Senior Leaders are responsible for developing business strategies and/or translating those strategies into meaningful outcomes and ultimately, business results. As a Senior Leader, you reach across geographical and functional boundaries to create alliances that further the organization's objectives and market position. Your deep and broad industry knowledge allows you to foresee external conditions that could potentially affect AIG's future.Accountabilities for the role:
Experience & Qualifications Required:
- Ensure execution of rate level indications and portfolio or scheme profitability exercises to be performed by direct reports throughout the subject countries within planned time frames, oversee the development of rating plans, execute rate and segmentation reviews, and identify market segment opportunities as part of the review process.
- Ensure accuracy of quoting and rating systems, working with Global Actuarial staff to ensure best practices are followed including appropriate risk loads for catastrophic risk, commissions, expenses and profit loadings, reviewing and approving regional Actuarial assumptions and ensuring that peer review process is applied consistently in the region.
- Promote the development and production premium adequacy reports and support budget loss ratio estimates for various segments.
- Build an engaged team and act as a role model both from a technical and a business perspective, showing skill depth and interdisciplinary knowledge, manage a broad team of over 10 technical staff structured to support the 3 regions effectively, including resources located in other offices.
- Collaborate with Claims, Finance, Underwriting, Business Intelligence and various other stakeholders to ensure data used for pricing and monitoring is complete, accurate, adequate and timely.
- Comply with key regulatory and risk management procedures as well as audit requirements
- Bachelor's degree or equivalent in Mathematics/Actuarial Science
- Fellow in the Institute of Actuaries, Society of Actuaries, Casualty Actuarial Society or local Actuarial Governing body.
- Significant experience in Accident, Health or Life Insurance, with an important focus on pricing and product knowledge
- Proven proficiency in actuarial concepts/methodologies and thorough understanding of general insurance including underwriting policies, claims handling policies and local legislation
- Proven ability to communicate and influence senior business stakeholders
- Experience in managing an actuarial team and proven ability to managing to tight deadlines and priorities in balancing multiple projects concurrently.
- Understanding of CAT risk and models and reinsurance/capital as it relates to pricing, is also required.
It has been and will continue to be the policy of American International Group, Inc., its subsidiaries and affiliates to be an Equal Opportunity Employer. We provide equal opportunity to all qualified individuals regardless of race, color, religion, age, gender, gender expression, national origin, veteran status, disability or any other legally protected categories.
At AIG, we believe that diversity and inclusion are critical to our future and our mission - creating a foundation for a creative workplace that leads to innovation, growth, and profitability. Through a wide variety of programs and initiatives, we invest in each employee, seeking to ensure that our people are not only respected as individuals, but also truly valued for their unique perspectives.